After reading Minoru Matsutani's Jan. 5 article, "20-year slump spawns anticonsumption generation," I began to worry about the Japanese economy, because I think the downturn in consumption will hurt economic growth. I had not heard of the "anticonsumption generation" until now.
I am in the process of job-hunting and many companies give me speeches. Some companies tell me that the young don't use much money these days because "Young people prefer indoor activity such as watching movies or playing games rather than travel even if they have the time," or because "The young generation does not put much stock in good cars or houses." I had thought that the reason the young don't use much money is that they don't have money! That still might be true, but now I understand that many are an "anticonsumption generation."
It also has been reported that parents nowadays tend to save for the future rather than spend so much on their children. Such parents are in their late 20s and early 30s.
In Japan today, many people worry about the future. In this recession, we job-hunters are afraid of failing to get a job. Middle-age people worry about old age and parents are concerned about their children's future. The state of Japanese politics, diplomacy and society aggravates this anxiety, which in turn will further disturb consumption and economic growth.